The global high end greenhouse market was valued at US$ 49,879.4 million in 2019, according to High End Greenhouse Market Report, by Covering Material (Plastic, Glass, and Others), by Product Type (Tomatoes Greenhouse, Cucumber Greenhouse, Eggplants Greenhouse, Peppers Greenhouse, and Others), by Component Type (HVAC Systems, Control Systems & Sensors, Valves & Pumps, Irrigation System, Material Handling, LED Grow Lights, and Others), by Application (Residential and Commercial), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
The global high end greenhouse market is expected to surpass US$ 85,136.6 million by 2027, exhibiting a CAGR of 8.9% during the forecast period (2020-2027). Rising adoption of hydroponic systems is driving the market growth of high end greenhouses. Hydroponic greenhouses provide ample amount of sunlight and other necessary nutrients to the crops so as to maximize the photosynthetic performance of the plant and enable the crop to grow at a faster rate. Indoor farming in climate controlled hydroponic greenhouses can enable farmers to grow various crops in areas with unsuitable weather or soil conditions. According to Pure Greens Arizona LLC (a service provider for hydroponics systems), crops grown in hydroponics systems grow 30% to 50% faster than the same crops grown in soil.
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Browse 25 market data tables* and 20 figures* on "High End Greenhouse Market” - Global Forecast to 2027.
Key Trends and Analysis of the High End Greenhouse Market:
- Among regions, Africa accounted for a significant market share in 2019. Rising government initiatives in the region is supporting the market growth. For instance, the Ministry of Agriculture in Africa launched a program to rehabilitate agricultural production, including the construction of 500 ha of greenhouses in 2014 to permit the growth of three successive crops of vegetables, potatoes, and melons. In addition, in Tunisia, the Canada’s International Development Research Centre developed a greenhouse with gutters that channel rainwater into storage tanks, capturing enough to meet 60 percent of irrigation requirements. Each greenhouse produces up to 6 tons of tomatoes per year.
Key Takeaways of the Market:
- Among covering material, plastic segment held largest revenue share of 70.8% in the global high end greenhouse market in 2019. Plastic sheets are widely used across the globe for the construction of greenhouses. This can be attributed to its low production cost and the simplicity in its manufacturing process. For instance, a prominent greenhouse manufacturer named Novagric uses three layered thermal plastic for the production of greenhouses. It is a 3-layered LDPE (coextrusion) white translucent plastic, which is non-stick, durable, and contains additives against UV radiation, it provides good thermicity and light diffusion.
- Major players operating in the global high end greenhouse market includes Texas Greenhouse Company Inc., Nexus Corporation, Certhon, Dutch Greenhouses, Conley's Manufacturing and Sales, Netafim, The Toro Company, Nelson Irrigation, LumiGrow, Poly-Tex, Inc., United Greenhouse Systems, Inc., CMF Groupe, China Agrotime, Artigianfer srl, Atlas Manufacturing Inc., Rough Brothers, Inc., Ludy Greenhouse Manufacturing Corporation, Stuppy Greenhouse, The BARRE Company, Asthor Greenhouse Manufacturer, Ammerlaan Construction, Greenhouse Kenya Company, Grekkon Limited, Illuminum Greenhouses, Haygrove Limited, Sunmax Greenhouse, GGS Structures Inc., Rimol Greenhouse Systems, Idroterm Serre Srl, and MSC Invernaderos.
- Key players operating in the high end greenhouse market are focusing on various strategies such as mergers & acquisitions in order to strengthen their market presence and expand their product portfolio. For instance, in 2017, The Toro Company acquired Regnerbau Calw GmbH, a manufacturer of professional irrigation equipment under the Perrot brand. The acquisition helped Toro to increase its product offerings in the irrigation business area.
Global High End Greenhouse Market - Impact of Coronavirus (Covid-19) Pandemic
- According to Coherent Market Insights’ analysis, many greenhouse farm growers in 2020 lost majority of their yields as most stores and restaurants were closed and could not sell their products. Though conventional ways of selling of products have dropped over the lockdown, many producers found new ways to market their products safely to the public such as open air markets, drive through markets, and online markets. Nationwide lockdown and social distancing measures implemented by leading countries such as India, the U.K., Italy, Spain, Russia, Malaysia, Singapore, and U.S. have negatively impacted the demand for new high end greenhouse projects. According to Coherent Market Insights’ analysis This is owing to the delay in the investments in such projects due to the vulnerability of the market. Also, as a second wave of the infection is still evident in countries across the globe, new investments in high end greenhouses are expected to be limited in 2021.